A Debt Free College Education: It’s Possible

Student loans are a foul mistress. On the plus side, loans can get you through college and give you an easy way to afford your college education, even if you weren’t able to save enough money or find scholarships. But on the downside, student loans represent a debt that you will be paying off for years, and the financial responsibility can be detrimental to your future. Although student loans are very popular these days, it is still possible to complete your college education without going into debt. Here are just a few of your options for debt free degrees.

Loan forgiveness is a very real option for many college students. Through certain programs, you can have your educational loan cancelled either in whole or in part, as long as you perform certain work or pursue specific careers. Generally, volunteer work, military service, teaching, or practicing medicine in certain communities will allow you to wipe the slate clean. Loan forgiveness is great for those who are planning to work in these fields, and also excellent if you’ve already completed college and need help with your student loans.

A good, old fashioned savings account is one of the smartest ways to finance your college education, especially if you’re using a 529. Even if it’s not possible for you to save enough for your entire tuition bill, every bit helps. Your savings can be combined with other options, like scholarships, grants, and work-study programs. Savings can also be used to reduce the amount of the student loans you’ll need to take out.

If you’re already working, employee tuition assistance can be a great help. You may feel like you’ve won the lottery when you find out that your employer wants to support your education with a tuition assistance program. In these programs, your workplace will reimburse you for tuition when you’ve completed each semester. Some employers pay no matter what your achievement, while others will require As for full reimbursement. Whatever the arrangement, do your best to take advantage of this free money for school.

The opportunities for debt free education don’t stop there. Scholarships, grants, high school college credit courses, and testing out of courses are just some of the ways you can work on a debt free education. Explore all of the options, and find the best way for you to graduate without the crushing debt of student loans.

Did you enjoy this article?

AddThis Social Bookmark Button


Leave a Reply